Market Close Commentary; 13 July 2020

  • Jul 13, 2020 AEST
  • Team Kalkine

The Australian stock market ended in the green zone. The benchmark index finished at 5977.5, up by 0.98 per cent as compared to Friday's closure of 5919.2.

US market on Friday also ended in the green zone with NASDAQ Composite surged by 0.66 per cent, Dow Industrials up by 1.44 per cent and S&P 500 up by 1.05 per cent.

The US market gained amid the positive outcome of Gilead Sciences' remdesivir in critically ill patients. However, the cases are continuously rising in the US with the Florida Department of Health reporting 15,299 new cases on Sunday.

Moreover, Australia fears a second wave as the cases pick up. Despite, the temporary borders shut with Victoria, New South Wales state has reported 14 new cases in the past 24 hours. Victoria has reported 177 new coronavirus cases after it went into the lockdown.

The best-performing stocks for today's market are:    

  • Platinum Asset Management (ASX: PTM), which was up by 6.757 per cent when traded at AUD 3.950.     
  • Virgin Money UK PLC (ASX:VUK) today grew by 5.438 per cent when traded at AUD 1.745.  

  The worst-performing stocks for today's market are:   

  • AVITA Medical Limited (ASX:AVH), it traded at AUD 7.140, down by 9.391 per cent.  
  • Technology One Limited (ASX: TNE) which traded at AUD 8.180, down by 6.407 per cent.  

  Have a look at the graph below to view five best and worst-performing stocks today:


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There is no one left untouched by the charm of the multibillion-dollar global boom in cannabis. Its glorious journey from a criminalized drug to being used in over 20 countries for treating medical conditions.

No wonder the cannabis stocks are on the edge of a green rush. Don’t miss out on the happenings in the cannabis sector and take advantage of the growth phase of this sector by subscribing to our report on Marijuana stocks in Australia.

Find out the drivers for the rise in cannabis stock rates Even though the cannabis sector is in its growing phase, Australian cannabis stocks have already started to rise actively due to a hastily increasing patient base, and a legislative landscape that is gradually beginning to liberalise.

Outreach and future of cannabis stocks As countries liberalise regulation for medical and recreational use of cannabis, it is predicted that the industry would grow sharply in upcoming years The global cannabis market stands currently at around $8 billion and it is expected that the hemp derived CBD market to hit approximately $22 billion by 2022. 

Key Players in the sector Althea Group Holdings Limited (ASX: AGH) and Cann Group Limited (ASX: CAN) are amongst the top players. Other Australia cannabis market players are- MGC Pharmaceuticals Ltd (ASX: MXC), Elixinol Global Limited (ASX: EXL), THC Global Group Limited (ASX: THC), AusCann Group Holdings Limited (ASX: AC8)

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